Title
Purchase of Property, Liability, Cyber Risk, Airport, Aircraft, Workers' Compensation Insurance and Workers' Compensation Surety Bond (Citywide)
Recommend purchase of Excess Liability Insurance from Starr Indemnity for $10 million in excess of the City's $3 million Self-Insured Retention (SIR). The cost of this policy is $386,700.
Recommend purchase of 2nd layer Excess Liability Insurance from Scottsdale Insurance Company for an additional $15 million in liability coverage. The cost of this policy is $129,500.
Recommend purchase of 3rd layer Excess Liability Insurance from Navigators Insurance Company for an additional $25 million in liability coverage. The cost of this policy is $95,000.
Recommend purchase of Property Insurance from Travelers Insurance with coverage of $300 million per occurrence and a $50,000 deductible. The cost of this policy is $383,263.
Recommend purchase of Cyber Risk Insurance from Illinois Union Insurance Company with coverage of $10 million per occurrence and a $150,000 deductible. The cost of this policy is $77,618.
Recommend purchase of Airport Liability and Aircraft Liability Insurance from AIG with a coverage of $100 million per occurrence and a $0 deductible for a three-year term. The cost of this policy is $107,354.
Recommend the purchase of Excess Workers' Compensation Insurance from Safety National Casualty Corporation with a self-insured retention (SIR) for $1 million per accident/injury/illness policy limit. The cost of this policy is $314,582.
Recommend the purchase of the Workers' Compensation Self-Insurance Surety Bond through Travelers Casualty and Surety Company of America for the rate of $6.00/$1,000.